Covid 19 dips Lanka’s March tea exports by half | Daily News


 

Covid 19 dips Lanka’s March tea exports by half

An unprecedented drop occurred in Sri Lanka’s March tea exports where exports were almost approximately 50% of the corresponding period last year. This drop is consistent with all categories.

Sri Lanka’s tea export quantities and revenues both of which had virtually halved for the Month of March 2020 over March 2019.

Tea in Bulk was 5,701, 464 kgs in March 2020 over the 10,418,544 kgs in March 2019 while tea in packets dipped to 6,320,694 in 2020 from the 12,767,501 kgs for the corresponding period in 2019 a year ago.

Tea bags in March 2020 were 1,327,615 ( kgs) in 2020 while the corresponding period a year ago was 2,438,560 kgs Instant tea was 168,452 kgs in March 2020 vis 301,152 kgs a year before in 2019.

Green tea exports in 2020 was 309,700 kgs in March 2020 over the 2019 March quantity of 482,481 kgs. The Grand Total of all categories of tea exports were 13,827,925 kilos in March 2020 over the 26,408,238 kilos in March 2019

Sri Lanka monthly tea export value (In Bulk) in March 2020 was Rs. 4,111, 448,127 over the Rs. 7,788,512,601. Tea in packets was Rs. 4,852,619,263 in March 2020 while the 2019 March export figure was Rs. 9,813,440,685.

Exports of tea bags raised Rs. 1,854,478,558 in March 2020 while the 2019 March revenue was Rs. 3,558,583,927. Instant Tea exports in March 2020 raised Rs. 226,770,929 while in March 2019 raised Rs. 376,364,116. Green Tea in March 2020 raised Rs, 525, 021,110 over the Rs. 922,735,266.

The Grand total for the period of March 2020 for all categories of tea exports was Rs. 11,570,337,987 Vis a Vis Rs. 22,459,636,595.

Asia Siyaka Managing Director Anil Cooke told the Daily News Finance that it took a while for the industry stakeholders to get back to business after the closure, after the Government gave directive that the tea industry was an essential industry, it took a while for the industry to return to work, ranging from the Regional Plantation Companies to the Tea Small Holders and others as well.

He said that the biggest priority now was for the factories workers of the tea exporting companies to return to work which would fill in the numbers.

A similar trend is shown where a total of 59.6 mn kg was exported January – March 2020 against the 73.6 mn kg of last year.

The difference in quantity is the shortfall in March. In value terms too a difference of approximately 50% is reflected.

 


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